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This story gives you a peek at the content coming to our new platform, TRD Policy Pro. Sign up to get early access here. Hey there, let’s get into today’s news at the intersection of policy and real estate: In this edition we mention: Department of Housing Preservation and Development Commissioner Dina Levy, Assembly member Charles Lavine, state Sen. Zellnor Myrie, New York Apar...

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Beauty retailer Ulta Beauty has inked a massive $400 million lease at Jeff Sutton’s marquee Midtown retail property in Times Square, The Real Deal has learned. The Illinois-based cosmetics and skincare retailer will occupy all four floors of the 26,000-square-foot building at 1551 Broadway, owned by Sutton’s Wharton Properties. The 15-year lease also includes the building’s 250-...

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How badly would a rent freeze affect New York City landlords? One credit agency now has an estimate.  A five-year rent freeze in New York’s stabilized apartments would drive about 6 percent of multifamily loans to default by 2030, according to a new analysis by Moody’s Ratings.  But that universe includes multifamily properties with no stabilized units. For buildings w...

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The Rudins rarely ply their trade outside of New York City, so when they do, it’s worth noting. The family firm is in contract to purchase 1 Harbor Point in Stamford, Connecticut from Building and Land Technology for approximately $150 million, Bloomberg reported. Should the deal close at that price, it would break down to more than $627,000 per unit. The 239-unit complex compri...

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Harry Macklowe has lost a round in the legal battle over 432 Park Avenue.  A New York appellate court ruled against the developer on Tuesday, rejecting his bid for indemnification in the long-running litigation over alleged construction defects at the Billionaires’ Row supertall. The developer’s argument hinged on his status as a member of the condo board from 2016 to ...

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